Timeshare Quiz 4 Questions with
All Correct Answers
Timeshare COAs may have which areas of funding that can assist in offsetting resort
owners' maintenance fees? - Answer-Rental of unoccupied units
Sale of foreclosed inventory
Onsite retail outlet profits
All owners pay the same maintenance fee regardless of the inventory (unit
configuration, season, week) that they actually own - Answer-False
Timeshare owners are mandatory members in the COA/HOA. - Answer-True
Control of the timeshare HOA generally reverts back to the developer once the project
has achieved an 85% sell out. - Answer-False
If everything is going smoothly, the timeshare board can choose to skip an annual
meeting. - Answer-False
In some states, in addition to maintenance fee billings, timeshare owners' associations
are also responsible for collecting: - Answer-Real property taxes.
If the property budget does not set aside enough reserve funds to anticipate future
furniture, fixture, appliance repairs, and the repairs or improvements to the physical
structures of the buildings, the owners are likely to levy a __________ to pay for these
items when such expenses become necessary. - Answer-Special assessment.
Maintenance fees are typically broken down into which of the following sub-categories?
- Answer-Operating expenses, reserves, and property taxes
Which of the following governs the board members' interests of the greater timeshare
resort over their own particular interests? - Answer-Duty of Loyalty
Which of the following is NOT a responsibility of the timeshare HOA? - Answer-ARDA
membership
In a timeshare resort with 600 units and an annual operating expense of $3M, how
much will each owner's maintenance portion be? - Answer-$100
, Generally speaking which owner will have the greatest exchange value for their week? -
Answer-Aruba 2bdrm/2bath Platinum week owner at a resort with above average guest
satisfaction scores
Exchanging to a resort that is not under the same developer is referred to as an internal
exchange. - Answer-False
Once a timeshare owner joins an exchange company, they only have to pay the
exchange company dues and fees in order to make an exchange. - Answer-False
Trading power within an exchange company system can be affected by which of the
following: - Answer-supply, demand, the resort quality, unit configuration, and consumer
comment cards.
Which of the following would be the most valuable week to an exchange company? -
Answer-2bdrm Fixed 51 Aruba week
The relationship between the developer, consumer and the exchange company is: -
Answer-The developer affiliates with an exchange company, which administers the
exchange service for resort owners.
An exchange company affiliation is desirable for the developer because: - Answer-this
feature enhances the value of their resort product by adding flexibility and vacation
alternatives.
A vacation option offered by exchange companies that does not require the owner to
relinquish their use rights - Answer-Getaway
Exchange companies first came into the timeshare industry in which decade? - Answer-
1970s
In which geographical location does RCI have the greatest number of resorts? -
Answer-Asia
Which of the following is NOT true as it relates to timeshare exchanges. - Answer-The
exchange process has not changed since inception; dealing solely with villa to villa
exchanges.
Based on vacation type, which is the largest category of RCI resorts? - Answer-
Watersports
What are the typical steps to make an exchange? - Answer-Pay all fees/dues related to
the owned week. Pay all fees/dues related to the exchange company. Deposit the
usage rights with the exchange company. Request the exchange.
All Correct Answers
Timeshare COAs may have which areas of funding that can assist in offsetting resort
owners' maintenance fees? - Answer-Rental of unoccupied units
Sale of foreclosed inventory
Onsite retail outlet profits
All owners pay the same maintenance fee regardless of the inventory (unit
configuration, season, week) that they actually own - Answer-False
Timeshare owners are mandatory members in the COA/HOA. - Answer-True
Control of the timeshare HOA generally reverts back to the developer once the project
has achieved an 85% sell out. - Answer-False
If everything is going smoothly, the timeshare board can choose to skip an annual
meeting. - Answer-False
In some states, in addition to maintenance fee billings, timeshare owners' associations
are also responsible for collecting: - Answer-Real property taxes.
If the property budget does not set aside enough reserve funds to anticipate future
furniture, fixture, appliance repairs, and the repairs or improvements to the physical
structures of the buildings, the owners are likely to levy a __________ to pay for these
items when such expenses become necessary. - Answer-Special assessment.
Maintenance fees are typically broken down into which of the following sub-categories?
- Answer-Operating expenses, reserves, and property taxes
Which of the following governs the board members' interests of the greater timeshare
resort over their own particular interests? - Answer-Duty of Loyalty
Which of the following is NOT a responsibility of the timeshare HOA? - Answer-ARDA
membership
In a timeshare resort with 600 units and an annual operating expense of $3M, how
much will each owner's maintenance portion be? - Answer-$100
, Generally speaking which owner will have the greatest exchange value for their week? -
Answer-Aruba 2bdrm/2bath Platinum week owner at a resort with above average guest
satisfaction scores
Exchanging to a resort that is not under the same developer is referred to as an internal
exchange. - Answer-False
Once a timeshare owner joins an exchange company, they only have to pay the
exchange company dues and fees in order to make an exchange. - Answer-False
Trading power within an exchange company system can be affected by which of the
following: - Answer-supply, demand, the resort quality, unit configuration, and consumer
comment cards.
Which of the following would be the most valuable week to an exchange company? -
Answer-2bdrm Fixed 51 Aruba week
The relationship between the developer, consumer and the exchange company is: -
Answer-The developer affiliates with an exchange company, which administers the
exchange service for resort owners.
An exchange company affiliation is desirable for the developer because: - Answer-this
feature enhances the value of their resort product by adding flexibility and vacation
alternatives.
A vacation option offered by exchange companies that does not require the owner to
relinquish their use rights - Answer-Getaway
Exchange companies first came into the timeshare industry in which decade? - Answer-
1970s
In which geographical location does RCI have the greatest number of resorts? -
Answer-Asia
Which of the following is NOT true as it relates to timeshare exchanges. - Answer-The
exchange process has not changed since inception; dealing solely with villa to villa
exchanges.
Based on vacation type, which is the largest category of RCI resorts? - Answer-
Watersports
What are the typical steps to make an exchange? - Answer-Pay all fees/dues related to
the owned week. Pay all fees/dues related to the exchange company. Deposit the
usage rights with the exchange company. Request the exchange.
